RE: What hull is this??
Let´s imagine the engine is in good shappe. I would mount a mocom Propeller 1816 ( you can buy at prestwich models UK) a fuel tank and would go to the pound. A 25% nitro fuel with at least 15% castor oil.
Firstly check everything and then try to run the boat.
Good Luck
P.S. In the past around 1970, more or less, such a kind of hull would need a .40 engine, but this was 38 years ago.